399 Shares in First Citizens BancShares, Inc. $FCNCA Purchased by Caprock Group LLC

Caprock Group LLC purchased a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 399 shares of the bank’s stock, valued at approximately $714,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FCNCA. SBI Securities Co. Ltd. purchased a new position in shares of First Citizens BancShares in the third quarter worth $27,000. UMB Bank n.a. increased its holdings in First Citizens BancShares by 100.0% in the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock valued at $29,000 after acquiring an additional 8 shares during the last quarter. Steph & Co. purchased a new stake in First Citizens BancShares in the 3rd quarter worth $32,000. Root Financial Partners LLC bought a new position in shares of First Citizens BancShares during the 3rd quarter valued at about $32,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of First Citizens BancShares by 280.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock valued at $34,000 after purchasing an additional 14 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Frank B. Holding, Jr. bought 135 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was acquired at an average cost of $1,629.67 per share, with a total value of $220,005.45. Following the transaction, the chief executive officer directly owned 2,527 shares in the company, valued at approximately $4,118,176.09. This trade represents a 5.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 13.19% of the company’s stock.

Wall Street Analyst Weigh In

FCNCA has been the subject of a number of research reports. Keefe, Bruyette & Woods dropped their price target on First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. TD Cowen lowered their target price on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Barclays reduced their price target on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a research report on Monday, January 26th. JPMorgan Chase & Co. upped their price target on shares of First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, The Goldman Sachs Group cut shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price objective for the company. in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,238.27.

First Citizens BancShares Stock Up 0.1%

NASDAQ:FCNCA opened at $2,005.87 on Tuesday. The company has a market cap of $24.95 billion, a price-to-earnings ratio of 12.10 and a beta of 0.70. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,232.21. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The stock has a fifty day simple moving average of $2,117.05 and a 200-day simple moving average of $1,948.69.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, topping the consensus estimate of $44.24 by $7.03. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.12%. Analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $2.10 dividend. The ex-dividend date is Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares’s payout ratio is presently 5.07%.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.